Pakistan’s Salaried Class Paid 40% More Tax Last Year 

Pakistan’s salaried class paid taxes worth Rs. 368 billion during the fiscal year 2023-24 (FY24), according to the latest data issued by the Federal Board of Revenue (FBR). The collection from the salaried class rose by almost 40 percent during FY24 compared to FY23, translating into an increase of around Rs. 103 billion in just one year.  Contracts, bank interest, and securities topped the list of revenue collection; FBR collection was Rs. 496 billion on contracts, while collection from bank interest and securities stood at Rs. 489 billion.  Tax collection from dividend payments rose by almost 70 percent to hit Rs. 145 billion, while tax collection on electricity bills also soared by 30 percent and stood at Rs. 124 billion.  Tax collection on the purchase of properties stood at Rs. 104 billion, while another Rs. 95 billion was collected on the sales of properties. The tax collection from the export sector stood at Rs. 94 billion.